Essay Title: 

What current management practices and principles are used in the current global business environment?

April 3, 2016 | Author: | Posted in business, mathematics and economics

Global Business

It goes without saying that management of international company differs from management of national one , firstly because global business is more affected by political and economic factors such as customs duties , taxes on corporate income , offset trade and local content . Thus managing international company requires not only management skills , but also cultural knowledge and cross-cultural communication skills Understanding how to communicate cross-culturally will assist business developing in promoting creating smoothly working project teams responding to customers , clients , and markets living and working in a culturally diverse world . In [banner_entry_middle]

a modern swiftly changing world people and cultures are circulating and interacting as at a really dizzying speed Those people who know how to use language and how to communicate cross-culturally have a crucial advantage over other businesses

Global managers should contribute to company ‘s success by understanding the main levels of globalization as well as by admitting the importance of international agreements . Global business has led to creation of new concepts and practices and all leaders of global companies have to understand them . Global company belongs to the final stage of globalization meaning that such business is provided with strategic corporate units in other countries that interacts with both headquarters and each other . Therefore , the objective of a manger is to create global structure aimed at tying people and to provide help in coordinating scattered offices . The next moment to admit is the global businesses are trying to establish global human resource practices with a minimum of country-specific adaptations . Managers of global companies provide leadership and continuity in the various divisions Apparently , managers would benefit from leading global businesses as it gives further opportunitites in career development and promotions Leading international company ensures the highest levels of leadership skills

References

Cherrington , D Middleton , L (1995 , June . An Introduction to Global Business Issues . HR Magazine , retrieved January 28 , 2007 , from HYPERLINK “http /www .findarticles .com /p /articles /mi_m3495 /is_n6_v40 /ai_ /p g_3 http /www .findarticles .com /p /articles /mi_m3495 /is_n6_v40 /ai_ /pg _3

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